The stock market can be broadly separated into two groups -- dividend stocks and non-dividend stocks. Among stocks that pay dividends to shareholders, most do so on a quarterly basis. But there are other directions a company can take with its capital return policy. Some companies decide to pay a dividend once per year, while others pay semi-annually. There are even monthly dividend stocks.Income investors may find monthly dividend stocks to be attractive, as they pay 12 dividends per year. Monthly dividend stocks deliver more frequent income payments than stocks with other payout schedules.